14 Mobile Metrics that Matter to Insurers

In his latest blog post, Joe McKendrick discussed how the role of mobile technology at insurance companies has opened up both new avenues of interaction with customers and new dimensions to internal operations. The current challenge for insurers, he said, is being able to measure what's working and whatĺs not with their mobile engagements.

To that end, McKendrick highlighted a recent report from professional services firm EY that examines the various metrics insurers should put in place to track the profitability and value of their mobile engagements.

The following pages outline each of the key metrics EY says insurers should capture in order to understand if a mobile outreach effort is having a positive impact.

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1. Session Time 1. Session Time

The average amount of time spent on a mobile site

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2. Depth of Visit 2. Depth of Visit

The average number of screens viewed compared to number of visits

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3. Frequency of Visit 3. Frequency of Visit

Theáratio of the number of visits to the number of users over a period of time

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4. Bounce Rate: 4. Bounce Rate:

The ratio of number of user visits with a single view event to total number of visits

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5. Total Downloads 5. Total Downloads

Theánumber of times app is downloaded from an app store

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6. App Users 6. App Users

The number of unique app users over a period of time

7. New Users 7. New Users

The first-time app users during a specified period of time

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8. Usage Rate 8. Usage Rate

How many people are using the site over a period of time

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9. Metric Benefit Impressions 9. Metric Benefit Impressions

The number of times a specific ad has been accessed or viewed by a user

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10. Clicks 10. Clicks

The number of times a specific ad has been clicked on after being accessed or viewed by a user

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11. Click-through Rate 11. Click-through Rate

The number of clicks divided by impressions

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12. User Acquisition Cost 12. User Acquisition Cost

Theábusiness cost to acquire a new user

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13. Average Revenue Per User 13. Average Revenue Per User

Theátotal revenue divided by the number of users

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14. Conversion Rate 14. Conversion Rate

The rate at which users are converting on the mobile site or app

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